8minute's Springbok facility in California. Souce: 8minute
Asset management firm Capital Dynamics and IPP 8minute Solar Energy announced on Thursday the purchase of a 300MWac/873MWdc solar project in Nevada.
8minute has been involved in the project for 18 months already, having been selected to develop the site by state utility NV Energy in May 2018.
The Eagle Shadow Mountain project will be built on the Moapa Indian Reservation, one hour's drive north-east of Las Vegas. It is one of two projects earmarked for the site.
The partners expect the farm to produce more than 900GWh of power for NV Energy annually once commissioned, which is anticipated for the end of 2021.
The facility, which will be backed by energy storage, will be developed by 8minute and constructed and operated by members of the Moapa Band of Paiutes.
The facility has been billed as the largest PV project planned on tribal land in the US.
This is the third collaboration between Capital Dynamics and 8minute. The asset manager and the independent power producer are the joint owners of two operational solar projects in California, the 121MW Springbok solar-plus-storage facility and the 328MW Mount Signal Solar farm.
The plant brings Capital Dynamics' total solar portfolio to 6.1GW, of which 1.3GW was added in 2019. Meanwhile, 8minute claims to have more than 15GW of solar and storage capacity under development.
News about the joint purchase comes the same day that reports emerged about NV Energy's proposal to build a major solar-plus-storage facility in Nevada through a PPA with Google.
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2020 for its 7th edition!